Revolut vs OFX: Fees & Reviews Compared

Both Revolut and OFX are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Revolut	OFX
Homepage
Transfer Fee	No fee for transferring to other Revolut users Card transfers: 0.7% (if you’re in Europe), 2.3% (outside Europe) Bank transfers: fees can range between 0.35% and 1%	AU$15.00 under $10,000 (Australia) CAD $15.00 under $10,000 (Canada) HK $60.00 under $50,000 (Hong Kong) NZD $15.00 under $10,000 (New Zealand) No fee for the rest of the world.
Average Exchange Rate Markup	0.5% – 2%	0.4% – 1.9%
Minimum Transfer Amount	$1	$1000 in the US £100 in the UK €2 in the EU $150 in Hong Kong and Singapore AU$250 and its currency equivalent in the rest of the world.
Maximum Transfer Amount	Depends on the selected plan, the sending country, and the recipient country.	No limit

Reviews

	Revolut	OFX
Trustpilot Rating	4.3	4.3
Number of Trustpilot Reviews	138,000	6,200
iOS App Rating	4.7	4.9
Number of iOS App Reviews	37,000	2,400
Android App Rating	4.5	4.5
Number of Android App Reviews	2,400,000	3,700

Features

	Revolut	OFX
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	200	190
Number of Currencies	29	55
Payment Methods	Bank account Debit card Credit card	Bank account
Receiving Methods	Bank account Debit card	Bank account
Cash Pickup Option	No	No
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English, German, Spanish, French, Portuguese, Dutch, Italian, Japanese, Chinese, Croatian, Greek, Czech, Danish, Russian, Hungarian, Polish, Slovak, Romanian, Swedish, Bulgarian, Latvian, and Lithuanian	English
Transfer Speed	Instant for Revolut users 1-2 days for the rest	1-4 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	Forwards contracts Stop-loss orders Limit orders Analytics Payroll automation Spending management Digital multi-currency wallet Rate alerts API integration	Spot contracts Forwards contracts Limit orders Rate alerts Risk calculator
Debit Card	Many including: Standard, Plus, Premium, Metal, Ultra, Business and Revolut <18	None
Cancellation Policy	Cancellation is available as long as the transfer hasn’t been completed. Refunds may take up to 10 days.	Each individual transfer’s cancellation can be discussed upon contacting an OFX representative.
Suitability	Small money transfers	Large money transfers

Company Comparison

	Revolut	OFX
Year Founded	2015	1998
Headquarters	London, UK	Sydney, New South Wales, Australia
Other Office Locations	Berlin (Germany), Dublin (Ireland), Krakow and Silesia (Poland), Madrid (Spain), Mexico City (Mexico), Porto (Portugal), São Paulo (Brazil), Bangalore, Chennai, Gurgaon, Indore, and Mumbai (India), Singapore, Tokyo (Japan), and Vilnius (Lithuania)	London (UK), Dublin (Ireland), Auckland (New Zealand), Hong Kong, Singapore, Toronto (Canada), and San Francisco (USA)
Annual Trading Volume	$140 billion	$21.5 billion
Number of Employees	8000	650
Number of Clients	30 million personal users 500,000 business users	1 million
Regulatory Institutions	FCA in the UK ASIC in Australia The Bank of Lithuania in the EU MAS in Singapore Kanto Local Finance Bureau in Japan	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC and AUSTRAC in Australia Central Bank of Ireland in EU MAS in Singapore CED in Hong Kong DIA in New Zealand
Awards	Top Startups (LinkedIn, 2018, 2019, 2020, 2021, 2022) Fintech Company of the Year (City AM Awards, 2018) Europe’s Allstar Company (Investor Allstars Awards, 2018) Top 10 Fastest Growing Startups To Work For (Otta, 2019) Top 10 Companies Hiring Like Crazy (Glassdoor, 2019) Top Spot at Deloitte’s Tech Fast 50 (Deloitte, 2019, 2020) Top Spot at The Startups 100 (Startups, 2019) Top 10 in Tech Track 100 Companies (The Sunday Times, 2019) Featured in The Best London Startups to Work (Rocket List, 2020) Lithuania’s TOP Employers (CV Online, 2020) Innovation of The Year (British Bank Awards, 2020) Featured in Best Startups To Watch (Seedtable, 2020, 2023) Best Talent Acquisition Team (LinkedIn Talent Awards, 2021) Featured in 150 Fastest Growing Companies to Work for in America (Otta, 2021) Best FinTech Employer of the Year (SFF Global FinTech Awards, 2021) Featured in Employer Branding Stars (EBstars Awards, 2022, 2023)	Named one of the Fast 50 (Deloitte, 2005 – 2011) Named one of the Fast 500 Asia Pacific (Deloitte, 2005 – 2011) Named one of the BRW Fast 100 (The Australian Financial Review, 2005) Becoming a New Investors Award Finalist (UK Trade and Investment International Business Awards, 2006) Receiving the Australian Growth Company of the Year award (Australian Growth Company Awards, 2013) Receiving the Fraud Prevention Award (Digital Identity Summit, 2016) Scoring Outstanding Value in Money Transfers (Canstar, 2016, 2017, 2018, and 2019) Decorated as an Excellent Brand of Forex Services (Hong Kong Leader’s Choice Award, 2021) Proclaimed the Best International Money Transfer Provider (Finder Customer Satisfaction Awards, 2021/2022)

Revolut Pros & Cons

Revolut Pros

• Offers a full range of banking features
• Exceptional customer support
• User-friendly debit card services
• Zero transfer fees for smaller transfers
• Attractive foreign exchange rates
• Comprehensive suite of business-oriented features
• Option to trade in cryptocurrencies
• Virtual cards for secure online transactions
• Broad coverage of services globally
• Wide range of supported currencies for travelers
• Fast money transfers

Revolut Cons

• Not designed for large-scale money transfers
• Complex fee structure
• Limited scope of in-app currency support
• No cash pickup options
• A relative newcomer in the financial industry

OFX Pros & Cons

OFX Pros

• Versatile solutions for businesses
• Exceptional customer support
• Quick money transfer process
• Attractive exchange rates
• Option for alerts on exchange rates
• Worldwide service coverage extending to more than 190 countries.
• Robust currency support with over 55 currencies and counting
• Lenient cancellation policy
• Comprehensive knowledgebase
• Highly rated mobile app

OFX Cons

• Not ideal for transferring small amounts of money
• Limited choices for funding transactions
• Transfer fees
• No real-time custom quotes option

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